Demand for Residential spaces are continuously rising in commercial pivots like Madhapur, Gachibowli, Uppal and Manikonda as the citizens have the benefit of having to pay a lower price for spacious apartments than in the central areas.
Central locations are no longer the only areas in demand as citizens are willing to move into peripheral areas of Hyderabad for the effective price. The upcoming metro rail is another factor which is driving away people from central locations.
“Earlier, the peripheral areas such as Madhapur, Medchal, Uppal and other were not so developed and have no connectivity to the central location, like Somajiguda, Begumpet, Jubilee Hills, Banjara Hills, and Himayathnagar,
But now things have changed, the peripheral areas have turned into a very suitable location as they are close to workplace and also have access to malls and other forms of entertainment.
A huge factor is various projects like gated communities, villas and townships which offer various facilities to residents. Many people, especially young couples, prefer these options even if it means they don’t reside in a central location,” says a Realtor.
“Why should I pay a huge mass for a smaller house in the central location when I am getting a much bigger house by giving the same amount in a different area? Also, with the metro rail coming up, connectivity problem will no longer create a problem” says a techie.